Poehling Capital Management INC. Has $2.25 Million Stake in Sphere Entertainment Co. $SPHR

Poehling Capital Management INC. lifted its holdings in shares of Sphere Entertainment Co. (NYSE:SPHR) by 51.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,822 shares of the company’s stock after purchasing an additional 18,202 shares during the period. Poehling Capital Management INC. owned 0.15% of Sphere Entertainment worth $2,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CWM LLC grew its holdings in Sphere Entertainment by 915.3% in the second quarter. CWM LLC now owns 731 shares of the company’s stock worth $31,000 after purchasing an additional 659 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Sphere Entertainment by 95.3% in the second quarter. GAMMA Investing LLC now owns 744 shares of the company’s stock valued at $31,000 after purchasing an additional 363 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Sphere Entertainment in the 1st quarter worth $123,000. D.A. Davidson & CO. bought a new position in shares of Sphere Entertainment during the 2nd quarter worth approximately $209,000. Finally, ProShare Advisors LLC purchased a new position in Sphere Entertainment in the second quarter worth $238,000. 92.03% of the stock is currently owned by institutional investors.

Sphere Entertainment Stock Performance

SPHR opened at $77.08 on Monday. Sphere Entertainment Co. has a 12-month low of $23.89 and a 12-month high of $81.47. The company’s 50 day moving average is $64.07 and its 200 day moving average is $48.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -14.91 and a beta of 1.79.

Sphere Entertainment (NYSE:SPHR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.25. Sphere Entertainment had a negative return on equity of 17.20% and a negative net margin of 13.87%.The company had revenue of $262.51 million during the quarter, compared to the consensus estimate of $259.34 million. On average, equities research analysts predict that Sphere Entertainment Co. will post -11.47 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on Sphere Entertainment from $40.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd. BTIG Research initiated coverage on Sphere Entertainment in a research note on Monday, October 6th. They issued a “neutral” rating on the stock. Benchmark upped their price objective on shares of Sphere Entertainment from $35.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. Guggenheim boosted their price objective on Sphere Entertainment from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere Entertainment in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.88.

Sphere Entertainment Profile

Sphere Entertainment Co engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.